为精准破解企业发展中遇到的难题，安康市明确50个市级单位对50家重点科技型企业开展"一对 一"精准帮扶，推行"一企一策"定制化服务模式，为企业发展保驾护航。建立数据信息共享机制，科技 部门定期向税务等部门提供高新技术企业、科技型中小企业名单，多部门协同推动符合条件的企业申报 享受税收优惠政策。不断优化创新生态，探索建立科技赋能"三个一"机制，为重点科技型企业选派科技 特派员50名，破解企业缺人才、缺技术问题；紧盯全市重点产业链，打造"周周有对接、月月有路演、 季季有主题、一链一专场、县区全覆盖"项目路演安康模式，加速推动成果转化。 "我们将不断强化企业科技创新主体地位，优化创新生态环境，迭代升级培育服务举措，通过政策 激励、平台赋能、要素保障、人才支撑，为高质量发展注入源源不断的科技动能。"安康市科学技术局 相关负责人说。（记者：董剑南） "十四五"以来，安康市以实施科技型企业创新发展倍增计划为抓手，构建全链条、多层次的企业培 育服务体系，科技型企业呈现"量质齐升"的良好发展态势。 聚焦企业成长全周期，安康市纵深推进"落地、登高、升规、晋位、上市"五项工程，构建"科技型 中小企业—高新技术企业—瞪羚企业—上市 ...

转自：成都日报锦观 本报讯 （成都日报锦观新闻记者 王柳） 1月4日，记者从市国资委获悉，《关于支持市属国有企业实施 中长期激励 促进科产融合的若干政策措施（试行）》近期出台，以市场化激励机制激活市属国企创新 动能，助力成都产业高质量发展。 《政策措施》主要围绕科技型企业；"双百行动""科改示范行动"企业；投资硬核科技、"9+9+10"现代产 业及原创技术落地转化项目的创投类企业；从事新产业、新业态、新商业模式或者具有高风险和不确定 性业务领域的企业；国有控股上市公司这五类重点主体进行激励。 坚持精准激励导向，非全员激励，重点激励科技人才、产业经营人才及骨干员工，引导企业和核心人才 立足长远发展，深耕核心业务与技术创新。构建多元化激励体系，包含科技型企业激励、创新领域跟投 试点、上市公司股权激励、超额利润分享四大激励路径，以确保政策落地见效。 成都国资委出台中长期政策 激励科技创新骨干人才 ...

● 本报记者昝秀丽 "近五年，天津市上市公司累计现金分红超1700亿元，是'十三五'时期的7.5倍，相当于同期股票融资的3 倍""全市上市公司累计研发投入超1000亿元，较'十三五'时期增长近八成""权益类基金规模由不足800亿 元增长至超2100亿元，较'十三五'时期增长1.7倍"…… 张文鑫介绍了天津证监局服务科技创新，促进新质生产力发展的特色做法。 在精准服务培育上发力。张文鑫表示，在构建天津市资本市场"1+N"配套政策体系和"N+N"机制保障体 系基础上，定期开展企业画像与创新属性评估，着力优化辅导备案和辅导验收工作，联合举办资本市场 服务周，新质生产力服务行等活动，指导沪深北交易所天津基地开展在地化服务，支持科技型企业股债 融资。"十四五"期间，天津市新上市企业中近八成为科技型企业，一批募投项目投向研发创新，不乏重 点项目。目前，全市高新技术、专精特新上市公司49家，家数占比近七成，期末总市值占比近八成；25 家拟上市企业中科技型企业占比超九成。科创债推出以来，天津市交易所市场发行规模超248亿元，近 三年年均复合增长率49%。 在赋能产业突破上发力。"十四五"时期，联合推动一批上市公司并购重组做优 ...

多地绘就资本市场发展路线图。 截至12月4日，年内共有100家企业上市，募集资金超千亿元，分区域来看，江苏、广东和浙江首发上市 公司数量较多，位列前三甲。 "支持企业挂牌上市已成为地方政府促进当地经济发展的重要路径。"中央财经大学副教授郑登津表示， 地方对科技企业上市的培育，能为A股市场输送更多优质科创主体，同时，有助于优化市场生态，提升 市场稳定性与活力。 从加速培育新质生产力，支持科技型企业上市融资，到鼓励上市公司运用并购重组等工具做优做强，再 到强化上市公司治理体系……近期，地方政府支持资本市场发展的举措不断涌现，绘就了地方版资本市 场发展路线图。 用好资本市场工具，是发展地方经济的重要抓手之一。南开大学金融发展研究院院长田利辉表示，地方 政府的一系列部署折射出各地更加注重引导资本有序投向科技创新、新兴产业领域，发挥资本市场在服 务实体经济中的作用，通过支持企业融资、并购重组等方式，构建资本市场与实体经济协同发展的良性 机制。 培育硬科技企业上市 资本市场制度包容性的提升，为以"硬科技"为立身之本的企业提供了成长沃土，借力资本市场，各地政 府纷纷推动科技创新和产业创新深度融合，助力硬科技企业上市。 陕西 ...

在服务硬科技方面，《若干措施》指出，要构建赋能上市培育机制，促进科技—产业—金融良性循环。 将有潜力的科技企业纳入省级上市后备企业名单，优化上市政务服务绿色通道机制。聚焦科技创新关键 领域，分层分类做好跟踪辅导，引导企业到合适板块上市。 从加速培育新质生产力，支持科技型企业上市融资，到鼓励上市公司运用并购重组等工具做优做强，再 到强化上市公司治理体系……近期，地方政府支持资本市场发展的举措不断涌现，绘就了地方版资本市 场发展路线图。 用好资本市场工具，是发展地方经济的重要抓手之一。南开大学金融发展研究院院长田利辉表示，地方 政府的一系列部署折射出各地更加注重引导资本有序投向科技创新、新兴产业领域，发挥资本市场在服 务实体经济中的作用，通过支持企业融资、并购重组等方式，构建资本市场与实体经济协同发展的良性 机制。 培育硬科技企业上市 资本市场制度包容性的提升，为以"硬科技"为立身之本的企业提供了成长沃土，借力资本市场，各地政 府纷纷推动科技创新和产业创新深度融合，助力硬科技企业上市。 陕西省近日出台的《关于深化资本市场改革助力陕西高质量发展的若干措施》（以下简称《若干措 施》），提出加强上市后备企业的联合培育、 ...

为加快金融强国和制造强国建设，中国人民银行、工业和信息化部等7部门于今年8月联合印发了《关于 金融支持新型工业化的指导意见》（以下简称《意见》）。近日，中国建设银行、中国银行等发布落实 《意见》要求的相关实施方案，进一步细化与新型工业化相适应的金融机制，全面支持我国新型工业化 深入发展。 中国银行充分发挥全球化优势与综合化特色，进一步优化适配新型工业化的综合金融服务体系。中国银 行以"商行+投行""境内+境外""融资+融智"综合服务，增强对产业链供应链韧性和科技创新能力的金融 供给。截至今年6月末，中国银行工业领域供应链融资余额及科技型企业贷款余额双双突破2.3万亿元， 保持较快增长势头。 中国光大银行推出支持新型工业化金融服务方案，通过40项具体工作举措，全面支持新型工业化深入推 进。在服务保障方面，启动"百链千户"供应链专项服务行动，计划新增百条供应链，保障产业链韧性与 安全发展，重点加强对重要矿产增储上产的定制化金融服务，提高战略性资源供应保障能力。 人民银行信贷市场司相关负责人表示，近年来金融支持工业发展取得积极成效，有力助推经济转型升 级。人民银行将继续加强与有关部门的紧密协作，支持金融机构优化服务 ...

基于债券融资风险偏好与定价逻辑的固有属性，科技型企业融资特征与传统债券市场的供给模式之间存在适配性 不足的挑战。 从期限与定价机制来看，债券市场的期限结构、风险定价体系与科技型企业研发投入高、盈利周期长、现金流波 动大的资金需求存在一定的结构性错配，短期融资难以支撑长期研发投入，而高风险特征又导致融资成本高企。 对此，需要引导更多的长期资金、耐心资本参与科技型企业债券投资，同时，进一步发展壮大信用增进、活跃信 用衍生品市场，为信用风险的分散分担创造良好的市场环境。 提升债券市场与科技金融的适配性 截至2025年7月末，我国债券市场存量规模接近190万亿元，是服务企业直接融资的主要场所，对服务科技创新融 资需求具有独特优势。同时，由于债券资金具有固定收益、到期还本付息的属性，天然更倾向于市场认可度高、 信用资质良好的企业。因而，债券市场需要针对科技创新周期相对较长、不确定性较大的融资特征，进行创新性 制度安排，以进一步提升债券市场对科技创新的适配性。 从债券融资属性角度分析 作者｜包香明「中国银行间市场交易商协会副秘书长」 文章｜《中国金融》2025年第17期 科技创新是引领高质量发展的第一动力，科技金融已成为 ...

Group 1 - The core viewpoint emphasizes the timely and significant return of high-quality overseas-listed technology companies to the A-share market, supported by favorable policies and market conditions [1][2][4] - The "1+N" policy framework has been effectively implemented, providing a stable institutional guarantee for the return of overseas-listed quality technology companies to the A-share market [2] - The A-share market's foundational systems are continuously optimized, with various boards complementing each other to cater to different types and stages of technology companies [2][3] Group 2 - The current international environment, characterized by global economic slowdown and increased volatility in overseas capital markets, presents an opportunity for overseas-listed quality technology companies to return to A-shares [3] - The return of these companies to the A-share market is expected to enhance the overall quality of listed companies, optimize industrial structure, and strengthen the capital market's ability to support technological self-reliance [3][4] - The return process requires collaborative efforts from regulatory bodies, market institutions, and companies to ensure a smooth and orderly transition [3]

Core Viewpoint - The People's Bank of China (PBOC) Shanghai Headquarters is committed to addressing the reasonable financing needs of private enterprises and enhancing their financing experience through targeted policies and initiatives [1][3]. Financial Performance - As of June 30, the total balance of loans in Shanghai reached 12.85 trillion yuan, a year-on-year increase of 8.4%, which is 1.6 percentage points higher than the national average [1]. - The total balance of deposits in Shanghai was 22.9 trillion yuan, with a year-on-year growth of 7.5% [1]. - The social financing scale in Shanghai increased by 8.418 billion yuan in the first half of the year, which is 3.24 billion yuan more than the previous year, effectively meeting the financing needs of the real economy [1]. Support for Private Enterprises - The PBOC Shanghai Headquarters has implemented various policies, including the "Shanghai Financial Support for High-Quality Development of the Private Economy Action Plan," to guide more financial resources towards private enterprises [3]. - In the first half of the year, the PBOC Shanghai Headquarters issued 24.43 billion yuan in targeted re-lending for agriculture and small enterprises, and provided significant support for technology-driven private enterprises [3][4]. - The average interest rate for newly issued inclusive loans to small and micro enterprises in Shanghai was 3.22%, a decrease of 67 basis points year-on-year [4]. Capital Market Development - The PBOC Shanghai Headquarters has organized activities to promote stock repurchase and increase loans for private listed companies, with over 130 projects approved by financial institutions by the end of June, nearly 80% of which were for private companies [5]. - The introduction of technology innovation bonds has facilitated private enterprises in financing and developing new productive capacities [5]. Future Plans - The PBOC Shanghai Headquarters aims to encourage banks to innovate products and services to support private enterprises in stabilizing operations and expanding employment [5]. - There will be a focus on key parks and industrial sectors to strengthen research and visits to different types of private enterprises, addressing their financing challenges [5].

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has introduced the "Science and Technology Innovation Board Growth Layer" to enhance the inclusivity and adaptability of the system, along with six reform measures [1][2]. Group 1: Introduction of the Growth Layer - The Shanghai Stock Exchange (SSE) has officially launched the "Growth Layer" for the Science and Technology Innovation Board, following the CSRC's guidelines [2]. - A total of 32 existing unprofitable companies will enter the Growth Layer immediately upon the implementation of the guidelines [3][4]. Group 2: Trading and Investment Conditions - The trading terminals will differentiate between existing and newly registered Growth Layer stocks by adding special identifiers "U" for Growth Layer stocks [5]. - The investment threshold for individual investors remains at 500,000 yuan in assets and two years of investment experience [6]. - Investors must sign a specific risk disclosure document before investing in newly registered unprofitable technology companies [7]. Group 3: Exit Conditions and Regulations - The exit conditions for the Growth Layer will implement a "new and old distinction," maintaining existing conditions for current companies while raising the exit criteria for newly registered unprofitable companies [8]. - The SSE will enhance regulatory oversight before and after a company is delisted, focusing on daily supervision and abnormal trading [8]. Group 4: Pre-Review Mechanism and Professional Investor Standards - A pre-review mechanism for IPOs has been introduced to protect sensitive business information for key technology companies [9]. - The "Senior Professional Institutional Investor Guidelines" have been established to refine the criteria for identifying qualified institutional investors [10][11]. - The SSE emphasizes that the recognition of senior professional institutional investors is only a reference for assessing market acceptance and growth potential, without affecting the listing standards [12]. Group 5: Enhanced Risk Disclosure - The SSE has revised the risk disclosure guidelines to better inform investors about the risks associated with investing in unprofitable companies [14]. - Ordinary investors must sign a risk disclosure document when applying for trading permissions on the Growth Layer, and existing investors must also sign this document to trade newly registered stocks [15].